Strs Ohio Takes $412,000 Position in Eagle Bancorp, Inc. $EGBN

Key Points

• Strs Ohio acquired 19,600 shares of Eagle Bancorp, Inc., valued at approximately $412,000, representing a 0.06% ownership in the company.
• Recent earnings data revealed a significant miss in EPS, with Eagle Bancorp reporting ($2.30) compared to an expected $0.40, along with a negative return on equity of 2.54%.
• Eagle Bancorp announced a quarterly dividend of $0.165, translating to a 3.1% dividend yield, amidst a challenging earnings performance.

Strs Ohio acquired a new stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,600 shares of the financial services provider's stock, valued at approximately $412,000. Strs Ohio owned approximately 0.06% of Eagle Bancorp at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Eagle Bancorp by 72.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,640 shares of the financial services provider's stock valued at $412,000 after buying an additional 8,277 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Eagle Bancorp by 24.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider's stock valued at $213,000 after buying an additional 2,000 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Eagle Bancorp in the 1st quarter valued at $930,000. Jupiter Asset Management Ltd. purchased a new position in shares of Eagle Bancorp in the 1st quarter valued at $3,532,000. Finally, GAMMA Investing LLC grew its position in shares of Eagle Bancorp by 1,812.4% in the 1st quarter. GAMMA Investing LLC now owns 68,082 shares of the financial services provider's stock valued at $1,430,000 after buying an additional 64,522 shares during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EGBN shares. Piper Sandler dropped their target price on shares of Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Janney Montgomery Scott raised shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective on the stock in a research report on Tuesday, June 10th. Finally, Wall Street Zen downgraded shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.00.

Eagle Bancorp Trading Down 0.3%

Shares of Eagle Bancorp stock opened at $21.10 on Tuesday. Eagle Bancorp, Inc. has a 1 year low of $15.47 and a 1 year high of $30.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $640.81 million, a P/E ratio of -20.69 and a beta of 1.14. The company's fifty day moving average is $18.93 and its two-hundred day moving average is $19.17.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported ($2.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($2.70). The business had revenue of $74.19 million for the quarter, compared to analysts' expectations of $73.03 million. Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%. Analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.66 annualized dividend and a dividend yield of 3.1%. Eagle Bancorp's payout ratio is presently -64.71%.

About Eagle Bancorp

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.

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